The "Helping Our Neighbors in Need" program was recently introduced to
Colorado homeowners and has a distinct mission:
As Certified Home Rescue Experts, our goal is to help educate and provide honest answers to Colorado homeowners about all of their available options when faced with unmanageable mortgage obligations or a negative equity situation in their home.
We recognize that every situation is unique, and the best solution will depend upon your current situation, your lender's willingness or ability to cooperate, and your future plans. Therefore, we never prescribe a "one-size fits all" solution - we can only help you through an honest self-evaluation of what will best serve your needs and situation. Whether you wish to stay, sell, or walk-away, you need to know what choices are available and what risks and benefits may result from those choices.
Our CHRE professional network includes legal professionals, economists, mortgage professionals, credit specialists, bankruptcy attorneys, title experts and real estate professionals who are specifically trained to help educate homeowners about the benefits and potential risks associated with curing a financially distressed home situation.
We provide this needed information free of charge, so that homeowners may choose the best course of action for themselves and their specific situation. We also offer a free in-home consultation service is offered without any cost or obligation.
Home owners are always advised to seek appropriate professional counsel before making important legal and financial decisions. Several options may be available to home owners who owe more combined mortgage debt than their home's current resale value. Here are a few of those options:
Loan Modification, Workout or Forebearance Agreement - A mortgage loan modification can allow the homeowner to stay in the home and may involve the reduction of the interest rate or an adjustment of the terms of the loan. The goal is to decrease the amount of each monthly mortgage payment. Modification plans may be temporary or may be extended at the discretion of the lender. Please review the HUD.gov "Beware of Loan Modification Scams" link for more information.
Bankruptcy - If a home owner has non-mortgage debts that prevent them from paying their mortgage payments, a personal Chapter 7 or Chapter 13 bankruptcy can possibly eliminate or restructure these debts. A bankruptcy may or may not stall or prevent a home foreclosure, and the timing of a bankruptcy could be critical should the lender choose to sue for a deficiency judgement against the homeowner in the future.
Short Sale - When a home is "under water" and the home owner owes more on their house or property than it is currently worth, they may attempt to sell the property and negotiate a short payoff with their lender and other lienholders. The home owner must be able to prove financial hardship. Hardships can include, but are not limited to: mortgage payment increase, job loss, long-term family illness or death of a mortgagor, divorce, excessive debt, forced or unplanned relocation, and more. Though not always a homeowner's first choice, a successful short sale can result in a negotiated settlement with lenders and creditors and better position the homeowner for restoring their credit and ability to purchase a home in the future.
Other options may include refinancing mortage debts, selling other assets for cash, renting the property, offering the lender a deed-in-lieu of foreclosure or just walking away.
Any of these options may have a lasting positive or negative impact on a homeowner's credit worthiness and financial well-being. Our network of trained professionals are here to help you to carefully evaluate any or all of these options so you are better informed of what choice you may be able to make to improve your situation. And please beware of any service that charges you an upfront fee - many are illegal and may cause more harm than good.
We encourage you to speak with a trained professional who is sworn to legal and ethical behavior. We are here to offer you as much support as you need to make an informed decision.
Contact us directly at 303-378-7677 or Send Us an Email at any time for a free, confidential, no-obligation consultation if we may assist you or answer any questions that you may have. There is never any pressure to buy or sell anything nor upfront commitment required from you.
We provide client services in the Greater Metro Denver area including Denver, Aurora, Arvada, Golden, Wheat Ridge, Lakewood, Littleton, Morrison, Highlands Ranch, Centennial, Englewood, Greenwood Village, Parker, Lone Tree and Castle Rock.
Call 303-835-4498 to access our 24 Hour Recorded Real Estate InfoLine for more information.
We want to know about ALL of your options and help you find the solution
that works best for YOU and your specific situation.